Analyst Update: Juniper, Activision Blizzard, Stratasys

Analysts adjusted their ratings and price targets on Juniper Networks, Inc. (NYSE:JNPR), Activision Blizzard, Inc. (NASDAQ:ATVI), and Stratasys, Ltd. (NASDAQ:SSYS)

Josh Selway

Oct 23, 2015 at 2:59 PM

Analysts are weighing in today on tech stock Juniper Networks, Inc. (NYSE:JNPR), video game producer Activision Blizzard, Inc. (NASDAQ:ATVI), and 3-D printing firm Stratasys, Ltd. (NASDAQ:SSYS). Here's a quick roundup of today's brokerage notes on JNPR, ATVI, and SSYS.

JNPR is getting a shot in the arm today, after the company last night beat the Street's earnings and revenue expectations. The stock has gained 4.3% to trade at $31.03, earlier hitting a four-year high of $31.51. This outperformance is nothing new for the shares, which were already boasting a 33% year-to-date advance coming into today. While Juniper Networks, Inc. has received no fewer than six price-target hikes today alone, it still stands to benefit from even more bullish analyst attention. For one, 59% of covering brokerage firms rate the shares just a "hold." Moreover, JNPR's average 12-month price target of $30.06 sits at a discount to current levels. Higher highs could be in store for the outperformer as analysts continue to come around.

ATVI has been straight fire recently, outperforming the broader S&P 500 Index (SPX) by 37 percentage points over the past 60 sessions. Nothing's changed today; the shares just tagged a record high of $35.44, last seen up 0.3% at $34.85. Fueling the gains is a price-target hike to $38 from $32 at MKM Partners. On the news front, the company yesterday announced it has created a new division devoted to e-sports, with former ESPN CEO Steve Bornstein serving as its chairman. Now, we'll have to see if this price action drives away Activision Blizzard, Inc. bears. Short interest suddenly jumped 24% during the two most recent reporting periods, and it would take over a week for short sellers to buy back their bets, going by average daily volumes. Said simply, ATVI could see additional gains fueled by a short squeeze.

SSYS, on the other hand, is having a miserable day, after the company last night announced dreadful preliminary third-quarter numbers. Analysts were quick to respond, with Cowen and Company, BofA-Merrill Lynch, and UBS all lowering their price targets, with the latter setting the bar the lowest at $18. The shares have dropped 11.1% today at $27.45, earlier touching another multi-year low of $24.80. It's not bad news for everyone, though. Twenty-six percent of Stratasys, Ltd.'s float is sold short, and it would take over two weeks for bears to repurchase their shorted shares, at the stock's typical trading pace.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Amazon.com, Inc., Alphabet Inc, and Microsoft Corporation and Analyst Downgrades: Pandora Media Inc, Skechers USA Inc, and Fortinet Inc

Follow @Schaeffers

Are You Ready for AI's Potential Supercycle Phase?
Amazon's Jeff Bezos surprised investors when he revealed that one emerging technology is the key to Amazon's future success... This technology could be worth $80 trillion by 2030. Learn more and join Motley Fool's Stock Advisor for 50% off!

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.